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China’s Jumei.com plans US IPO

Chinese online cosmetics retailer Jumei.com plans to seek $600 million by listing in the US.

The retailer has reportedly hired Credit Suisse Group AG and Goldman Sachs Group to manage its IPO which could value it $3 billion.

Based in Beijing, Jumei.com, which offers cosmetics brands such as Lancome and Dior, has been backed by US venture capital company Sequoia Capital and K2 Ventures.

Jumei.com is not the first Chinese online retailer planning to list in the US. JD.com has already filed a US IPO to raise $1.5 billion while Alibaba plans to go public in 2015 to raise more than $10 billion.

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